Berkshire marks big quarterly loss as shareholders gather

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New York (AFP) – Berkshire Hathaway, the holding company of billionaire businessman Warren Buffett, saw its net profit plunge by 53 percent in the first quarter due to a drop in the paper value of its investments, it said. The announcement came as the corporation prepared for a much-anticipated annual shareholder meeting Saturday in Omaha, Nebraska, its first in person since before the Covid-19 pandemic. The event, dubbed a “Woodstock for Capitalists,” draws thousands of shareholders from around the world to hear the investment wisdom of the 91-year-old Buffett, revered among investors as the …

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